Photo: Maxim Bogodvid / RIA Novosti
The world prices for oil have fallen on Friday, may 22, in the course of trading on the London stock exchange ICE. This is evidenced by the trading platform.
As at 08:30 Moscow time the cost of July futures for benchmark Brent blend slumped 5.3 percent, below 34 dollars a barrel. The value of the contract for the supply of American oil WTI fell by 6.1 per cent to 31.4 per dollar. At the moment the cost of raw materials fall below 31 dollars per barrel.
Oil falls amid fears that the world’s second largest economy Chinese will recover more slowly than expected. As we learned earlier, China first refused to set targets for GDP growth in 2020 because of the difficulties in assessing the scale of damage from the coronavirus.
In addition, investors are concerned about the future of relations between China and the United States. Washington said that because of the pandemic of coronavirus that emerged from China, the world has lost 9 trillion dollars. The American side has demanded from the Chinese to allocate this amount to fight the epidemic in the world.
In the us administration also believe that China has provided incomplete data on the virus, and threatened Beijing with sanctions if he did not reveal all the information. China charges the U.S. denies. Meanwhile, speaking about the future of the trade deal, American and the Chinese side has assured that the situation with the coronavirus will not affect the implementation of the agreement.
Video, photo All from Russia.